Al’s practice focuses on complex corporate reorganizations and restructuring. He has expertise in all areas of commercial, bankruptcy, and creditors’ rights law. He has represented creditors (including a variety of financial institutions) and debtors in bankruptcy proceedings, commercial litigation, and real estate foreclosures before both federal and state courts. He also has extensive experience in the negotiation and documentation of out-of-court workouts and commercial loan transactions.
In recent years, Al has been lead debtor or committee counsel attorney in some of the most significant commercial and business bankruptcy cases filed in Oregon and Southwest Washington.
Al began his legal career as an associate attorney with Russell, Ward, Hodgkins & Heaney in Grand Rapids, Michigan. He became Vice President, Assistant General Counsel and Supervisor of the Litigation Division of Orbanco Financial Services Corporation’s Legal Department in Portland in 1981. He joined Tonkon Torp in 1984, becoming a partner in 1986. Al enjoys skiing and bicycling.
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Featured Representative Matters
In re Stayton SW Assisted Living, LLC
In re C & K Market, Inc.
In re Williams, Love, O'Leary & Powers, P.C.
In re Total Mechanical, Inc.
In re Roman Catholic Archbishop of Portland
In re Beall Corporation
In re HemCon Medical Technologies, Inc.
In re Western Communications, Inc.
In re Don J. Simplot
In re Society of Jesus, Oregon Province
Tonkon Torp Leads Oregon Grocery Chain Out of Bankruptcy
In one of the quickest and most successful conclusions of a grocery chain bankruptcy proceeding, Tonkon Torp secured court approval of a reorganization plan for C&K Market, Inc., to emerge from Chapter 11 bankruptcy just seven months after filing. Find details and more featured cases here.
"Local Firm Snags Megadeal: Case Doesn't Faze Midsize Law Office"
Tonkon Torp is featured in an article in the April 2011 issue of the ABA Journal. The firm's work on the Sunwest bankruptcy case is the topic of the story, which discusses our representation of Clyde Hamstreet, the Chief Restructuring Officer for the case. The Sunwest bankruptcy concluded with a $1.2 billion deal, which was the culmination of one of the biggest and most complex bankruptcy cases of its kind ever filed in Oregon.
Untangling the Sunwest Bankruptcy
In August 2010, Blackstone Real Estate Advisors closed a $1.2 billion deal to acquire 134 senior living properties from bankrupt Oregon-based Sunwest Management, formerly the country's fourth largest (and largest privately-held) senior living operator. Tonkon Torp represented the Chief Restructuring Officer of Sunwest in this deal, which was the culmination of one of the biggest and most complex bankruptcy cases of its kind ever filed in Oregon.
Roman Catholic Archdiocese of Portland Bankruptcy
The Archdiocese of Portland made national headlines when it became the first Archdiocese to seek bankruptcy protection, triggered by several hundred claims for damages stemming from allegations of abuse at the hands of clergy. Tonkon Torp is playing a central role.
Turnaround Management Association
Awards & Recognitions
The Best Lawyers in America
2011, Lawyer of the Year - Bankruptcy & Creditor Debtor Rights / Insolvency and Reorganization Law, Portland
1989-2018, Bankruptcy & Creditor Debtor Rights Law
2014-2018, Bet-the-Company Litigation
2012-2018, Litigation: Bankruptcy
2012–2015, Top 50 Oregon Super Lawyers
2017, Top 50 Oregon Super Lawyers
2006–2017, Oregon Super Lawyer - Business Bankruptcy
Turnaround Management Association
Best Lawyers in America® Names 49 Tonkon Torp Attorneys to 2018 List
28 Tonkon Torp Attorneys Honored on 2017 Super Lawyers Lists
Al Kennedy Discusses Insurance in Bankruptcy at NW Bankruptcy Institute
Best Lawyers in America® Names 44 Tonkon Torp Attorneys to 2017 List
28 Tonkon Torp Attorneys Honored on 2016 Super Lawyers Lists
45 Tonkon Torp Attorneys Named Best Lawyers in America® 2016
2015 Super Lawyers Honors 23 Tonkon Torp Attorneys
Best Lawyers in America® 2015 Names 49 Tonkon Torp Attorneys to Prestigious List
2014 Super Lawyers Honors 23 Tonkon Torp Attorneys
Al Kennedy Discusses Archdiocese Bankruptcy Case Issues
50 Tonkon Torp Attorneys Named to Best Lawyers in America® 2014
2013 Super Lawyers Honors 20 Tonkon Torp Attorneys
Al Kennedy Speaks at Two Professional Events on Bankruptcy Issues
Al Kennedy Offers Perspective on Sunwest Management Bankruptcy at Oregon State Bar Event
Best Lawyers in America® Names 50 Tonkon Torp Attorneys to 2013 List
Twenty Tonkon Torp Attorneys Named to 2012 Super Lawyers and Rising Stars Lists
Sunwest Management Bankruptcy Case is Topic of Forum Discussion
Tonkon Torp Attorneys Named 2012 Portland Lawyer of the Year in Three Practice Specialties
Tonkon Torp Lawyers Honored for Sunwest Turnaround
Publications & Presentations
Al is a frequent speaker on bankruptcy and is the author of numerous articles on bankruptcy-related topics. He is the author of Chapter 16, Development, Confirmation, and Consummation of Chapter 11 Plans, 2 Oregon Law (Oregon CLE: 1999) and the 2007 Supplement
"Insurance in Bankruptcy: Asset, Liability or Both?" 30th Annual Northwest Bankruptcy Institute, 2017
"Bankruptcy in the Cathedral," Federal Bar Association – Oregon, 2014
"Challenges in Retail Restructurings: Landlords, Liquidations, Lender Concerns and other Issues," TMA's Thirteenth Annual Northwest Cross-Border Conference, 2012
"Forum Shopping and the Venue Market Failure in Bankruptcy," Oregon State Bar Debtor-Creditor
Section CLE and Annual Meeting, 2012
"The State of Corporate Reorganization," Lewis & Clark Law School Business Law Roundtable, 2012
"Strategies for Valuation in Bankruptcy," 2011 Oregon State Bar Debtor-Creditor Section CLE and Annual Meeting
"Bankruptcy Trusts: One Size Does Not Fit All," Turnaround Management Association, 2011
"Reorganization v. Liquidation in Chapter 11 Cases," 24th Annual Northwest Bankruptcy Institute, 2011
"Bankruptcy and the Secured Creditor," Lorman Education Services, 2008
"Dates, Deadlines and Avoiding Pitfalls in Business Bankruptcies," 21st Annual Northwest Bankruptcy Institute, 2008
"Fiduciary Obligations in the Vicinity of Insolvency," The Seminar Group, The Best of CLE, 2008
"Loan Workout and Collateral Liquidation," Lorman Education Services, 2008
"The Wheel of Misfortune," 19th Annual Northwest Bankruptcy Institute, 2006
"Commercial and Real Estate Loan Documents in Oregon," Lorman Education Services, 2004
"Real World Evidence," 17th Annual Northwest Bankruptcy Institute, 2004
"Receiverships v. Bankruptcies," Turnaround Management Association, 2004
"Contested Chapter 11 Plan Hearings," Oregon State Bar Debtor-Creditor Section CLE, 2004